MGEMX vs. PRWCX
MGEMX (Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio) and PRWCX (T. Rowe Price Capital Appreciation Fund) are both mutual funds - MGEMX is a Emerging Markets Equities fund managed by T. Rowe Price, while PRWCX is a Diversified Portfolio fund actively managed by T. Rowe Price. Over the past 10 years, MGEMX returned 2.50%/yr vs 11.16%/yr for PRWCX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. MGEMX charges 1.05%/yr vs 0.68%/yr for PRWCX.
Performance
MGEMX vs. PRWCX - Performance Comparison
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Returns By Period
In the year-to-date period, MGEMX achieves a 23.22% return, which is significantly higher than PRWCX's 6.66% return. Over the past 10 years, MGEMX has underperformed PRWCX with an annualized return of 2.50%, while PRWCX has yielded a comparatively higher 11.16% annualized return.
MGEMX
- 1D
- 2.19%
- 1M
- -2.81%
- 6M
- 13.22%
- YTD
- 23.22%
- 1Y
- -28.33%
- 3Y*
- -3.74%
- 5Y*
- -5.97%
- 10Y*
- 2.50%
- ALL TIME*
- 6.67%
PRWCX
- 1D
- 0.69%
- 1M
- 0.13%
- 6M
- 6.15%
- YTD
- 6.66%
- 1Y
- 11.23%
- 3Y*
- 12.24%
- 5Y*
- 8.27%
- 10Y*
- 11.16%
- ALL TIME*
- 11.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MGEMX vs. PRWCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGEMX Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio | 23.22% | -34.08% | 8.07% | 12.16% | -25.07% | 3.53% | 14.59% | 37.21% | -17.34% | 34.98% |
PRWCX T. Rowe Price Capital Appreciation Fund | 6.66% | 12.45% | 12.50% | 18.85% | -12.00% | 18.45% | 18.13% | 24.62% | 0.63% | 15.34% |
Correlation
The correlation between MGEMX and PRWCX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 1992 | 0.56 |
The correlation between MGEMX and PRWCX has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.
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Return for Risk
MGEMX vs. PRWCX — Risk / Return Rank
MGEMX
PRWCX
MGEMX vs. PRWCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) and T. Rowe Price Capital Appreciation Fund (PRWCX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MGEMX | PRWCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.24 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.63 | -2.18 |
| Martin ratioReturn relative to average drawdown | -0.88 | 6.67 | -7.54 |
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Drawdowns
MGEMX vs. PRWCX - Drawdown Comparison
The maximum MGEMX drawdown since its inception was -64.93%, which is greater than PRWCX's maximum drawdown of -41.77%. Use the drawdown chart below to compare losses from any high point for MGEMX and PRWCX.
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Drawdown Indicators
| MGEMX | PRWCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.93% | -41.77% | -23.16% |
Max Drawdown (1Y)Largest decline over 1 year | -52.50% | -6.32% | -46.18% |
Max Drawdown (3Y)Largest decline over 3 years | -52.50% | -15.96% | -36.54% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -17.07% | -35.43% |
Max Drawdown (10Y)Largest decline over 10 years | -52.50% | -26.86% | -25.64% |
Current DrawdownCurrent decline from peak | -38.67% | -0.78% | -37.89% |
Average DrawdownAverage peak-to-trough decline | -19.90% | -3.32% | -16.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.27% | 1.54% | +31.73% |
Volatility
MGEMX vs. PRWCX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) has a higher volatility of 11.16% compared to T. Rowe Price Capital Appreciation Fund (PRWCX) at 2.08%. This indicates that MGEMX's price experiences larger fluctuations and is considered to be riskier than PRWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGEMX | PRWCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.16% | 2.08% | +9.08% |
Volatility (6M)Calculated over the trailing 6-month period | 23.85% | 6.60% | +17.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.30% | 7.94% | +49.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.83% | 12.78% | +17.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.17% | 12.72% | +12.45% |
MGEMX vs. PRWCX - Expense Ratio Comparison
MGEMX has a 1.05% expense ratio, which is higher than PRWCX's 0.68% expense ratio.
Dividends
MGEMX vs. PRWCX - Dividend Comparison
MGEMX has not paid dividends to shareholders, while PRWCX's dividend yield for the trailing twelve months is around 8.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGEMX Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio | 0.00% | 0.00% | 1.27% | 2.48% | 4.48% | 9.05% | 1.07% | 26.00% | 2.46% | 0.60% | 0.82% | 0.87% |
PRWCX T. Rowe Price Capital Appreciation Fund | 8.26% | 8.81% | 10.38% | 4.15% | 9.44% | 9.23% | 7.97% | 5.83% | 7.46% | 6.82% | 3.51% | 9.86% |
Frequently Asked Questions
MGEMX and PRWCX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGEMX has higher volatility (11.16%) compared to PRWCX (2.08%). In terms of maximum drawdown, MGEMX dropped -64.93% vs PRWCX's -41.77%.
PRWCX currently has the higher Sharpe Ratio (1.30 vs -0.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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